S&P loses patience with Yorkshire Water
- From: Vol 10, Issue 3 (March 2009)
- Category: General
- Region: Europe
- Related Companies: Kelda, Saltaire Water, Separation Processes Inc, Standard and Poor and Yorkshire Water
The lack of developments on the refinancing of acquisition debt led S&P to cut Kelda’s credit rating by two notches in early March. Was the move premature?
Standard & Poor’s has cut Yorkshire Water’s credit rating by two notches over concerns about its parent group’s high leverage and the delay in arranging a securitisation-style financing structure for the regulated water business.
Private equity consortium Saltaire Water, which acquired Yorkshire’s parent Kelda for about £5.5 billion including debt at the end of 2007, aims ...
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